Kaoko Metals Limited · ASX:KAO
Kaoko Metals — Investor Presentation (May 2026)
21 slides from Kaoko Metals's investor presentation, May 7, 2026
Slide 1: Investor Presentation
For personal use only INVESTOR PRESENTATION High Grade Copper, Silver & Gold projects in Namibia's emerging geological belts ASX CODE DATE KAO 07 May 2026
Slide 2: Disclaimer
DISCLAIMER SUMMARY INFORMATION FORWARD LOOKING STATEMENTS This presentation has been prepared by Kaoko Metals Limited (ACN 688 022 139) ("Company") and This presentation may contain forward-looking statements. Those forward-looking statements reflect its subsidiaries. The issue of this presentation
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS HIGH-GRADE ASSETS ATTRACTIVE VALUATION • Chalkos Copper-Silver: Grades up to 69.6% Cu & • IPO 7 May 2026: $6.5M raise @ $0.20/share. 2,030g/t Ag. MARKET CAP • Karibib Copper-Gold-Tungsten: Drill intercepts ENTERPRISE VALUE (before costs) For personal use only $12.1M ~$5.3M incl
Slide 4: Capital Structure
CAPITAL STRUCTURE Listed 07 May 2026 SHARE PRICE ON LISTING SHARES ON ISSUE MARKET CAP (AT IPO) $0.20 /sh ~60.6M ~$12.1M Gross Proceeds: $6.5M Total issued capital at IPO Based on offer price For personal use only ENTERPRISE VALUE IMPLIED CASH ~$5.3M ~$6.8M Low EV entry point Cash-backed exploration
Slide 5: Board of Directors
BOARD OF DIRECTORS Experienced board with deep African and Namibian presence MARK THOMPSON GERARD O’DONOVAN NON-EXECUTIVE CHAIR MANAGING DIRECTOR & CEO • Minerals industry executive with 25+ years’ • Mining executive with 18+ years’ experience across experience across exploration, development and ex
Slide 6: Senior Management
SENIOR MANAGEMENT Strong technical and in country management DR ISMAEL KANGUEEHI LISIAS PIUS IN-COUNTRY EXPLORATION LEAD IN-COUNTRY MANAGER • Namibian Earth Scientist and Environmental • Namibia-based mining professional with 13+ Geochemist. years’ experience. • PhD in Earth Sciences, Stellenbosch U
Slide 7: Kaoko Copper Belt Opportunity
KAOKO COPPER BELT OPPORTUNITY A vast, underexplored copper belt with world-class potential The Kaoko Belt is proven to hold high grade projects Chalkos is located within the same geological setting as the historic Tsumeb Mine (reported to have produced 30M tonnes which yielded 1.7Mt Cu @ 4.3%)1 and
Slide 8: Projects Overview
PROJECTS OVERVIEW CHALKOS COPPER / SILVER 69.6% 2,030 g/t PEAK COPPER PEAK SILVER KAOKO COPPER BELT GRADE GRADE • High-grade sediment-hosted & structurally controlled copper–silver in an underexplored geological setting similar to Tsumeb and Midas Minerals (ASX: MM1). For personal use only • Highly
Slide 9: Chalkos Copper Silver — Highlights
CHALKOS COPPER SILVER — HIGHLIGHTS1 OUTSTANDING PEAK GRADES SCALE & PROSPECTIVE TREND 69.6 % 2,030 g/t 20 km 40km For personal use only PEAK COPPER (CU) PEAK SILVER (AG) OF MINERALISED STRIKE OF PROSPECTIVE TREND Outstanding high-grade copper samples confirmed at surface. Continuous high-grade outcr
Slide 10: Chalkos — Location & Geology
CHALKOS — LOCATION & GEOLOGY NEARBY RESOURCES Chalkos is located within the same geological setting as the historic Tsumeb Mine (reported to have produced 30M tonnes which yielded 1.7Mt Cu @ 4.3%)1 and Midas Minerals (ASX:MM1) Otavi Project with a maiden inferred resource of 10.5Mt at 1.6% Cu and 21
Slide 11: Chalkos — Local Geological Setting & Infrastructure
CHALKOS — LOCAL GEOLOGICAL SETTING & INFRASTRUCTURE For personal use only Aerial Image of Donkey Hill Examples of widespread copper mineralisation at Donkey Hill prospect at Chalkos Chalkos Project geological setting 1. Refer to Table 2: Phase 1 Donkey Hill grab sample results in the IGR contained i
Slide 12: Comparable Projects - Midas Minerals
COMPARABLE PROJECTS - MIDAS MINERALS ASX: MM1 MARKET CAPITALISATION ~A$226M As of 04/05/26 Maiden Inferred Resource1 HIGH GRADE For personal use only 10.5Mt @2.0% CuEq Otavi Project 1.6% 21 g/t COPPER (CU) SILVER (AG) Photograph taken at Chalkos Site Refer MM1’s ASX release dated 16 May 2025 Key Dri
Slide 13: Metallurgical Testing & Ore Sorting - Chalkos
K METALLURGICAL TESTING & ORE SORTING - CHALKOS LEACH MINERALOGY XRT SORTING TESTWORK (XRD) For personal use only +12% Cu Up to 89% Oxide • Significant Upgrade • Achieved up to 89% recovery from • Key Minerals: Identification of • Donkey Hill 308kg bulk sample and Otniel Brochantite, Malachite, and
Slide 14: Karibib Copper-Gold-Tungsten Project
KARIBIB COPPER-GOLD-TUNGSTEN PROJECT Strategic Tenure & Emerging Discovery Emerging copper–gold–tungsten system within the Damara Belt, with limited modern exploration completed to date. LOCATION & TENURE Located ~33 km south of Karibib in the Erongo Region, central For personal use only Namibia, co
Slide 15: Karibib Copper-Gold (Staged Earn In Up To 85%)
KARIBIB COPPER-GOLD (STAGED EARN IN UP TO 85%) EXPLORATION HIGHLIGHTS Rock chip and channel sampling produced encouraging multi-commodity grades: • Rock Chips up to 28.4% Cu, 453g/t Ag, 26.3 g/t Au1. • Channel sample averages: 2.72% Cu, 56.7 g/t Ag, 0.54 g/t Au, 0.22% WO₃ 2 For personal use only • T
Slide 16: Upcoming Works/Catalysts
UPCOMING WORKS/CATALYSTS Chalkos Copper Silver • Access & site establishment works Project • Field work including detailed mapping & sampling at Donkey Hill & Otniel • Drill Target Refinement • Regional Exploration outside of known mineralisation. • Maiden Diamond Drill Program For personal use only
Slide 17: Why Namibia?
WHY NAMIBIA? Windhoek, the capital of Namibia Namibia boasts a stable democracy with clear STABLE POLITICAL 01 mining legislation and a well-established legal ENVIRONMENT framework providing investment security. Well-maintained road networks, deep-water ports EXCELLENT 02 (Walvis Bay), and reliable
Slide 18: Copper Market Fundamentals
COPPER MARKET FUNDAMENTALS GREEN ENERGY TRANSITION TECHNOLOGY & DATA Electric Vehicles (EVs): Requires 3 x more copper Data Centres: AI and cloud computing expansion than internal combustion engine (ICE) vehicles. require massive power & cooling infrastructure. Renewables: Solar and wind generation
Slide 19: Copper Supply-Demand Outlook
COPPER SUPPLY-DEMAND OUTLOOK SUPPLY DEFICIT (2030) SUPPLY SHORTFALL (2035) INVESTMENT REQUIREMENT 2.6 Mt 40 % $250 Bn Represents approx. 9% of total global supply, Forecast shortfall if new mining projects Capital needed by 2030 to build ~80 new copper contributing to tightening market conditions. a
Slide 20: Silver Market
SILVER MARKET Rising demand from solar photovoltaics, electronics, and healthcare applications is tightening global silver supply, reinforcing its long-term investment appeal, driven by six key structural factors. INDUSTRIAL APPLICATIONS SOLAR PHOTOVOLTAICS (PV) INVESTMENT APPEAL For personal use on
Slide 21: Gerard O'Donovan, Managing Director & CEO
For personal use only GERARD O'DONOVAN MANAGING DIRECTOR & CEO info@kaokometals.com www.kaokometals.com KAOKO METALS LIMITED | ASX:KAO May 2026 | INVESTMENT PRESENTATION 21